External Perspective
Full Power of Data-Driven Analytics Still Largely Untapped by Insurers
The depth and breadth of predictive modeling applications are growing as insurance companies become more comfortable with this core function in modern property/casualty business. However, few ...
Can Karen Clark Move Forward the Cat Modeling Industry She Helped Create?
Karen Clark scored a bonafide first when she launched catastrophe modeling company Applied Insurance Research (AIR) in 1987. With a focus on computer simulations, it was the only operation of its ...
Open Platform vs. Open Source
Karen Clark noted that her company's RiskInsight "open platform" currently is the only one in the industry already used by insurers and reinsurers. But what about the Oasis framework, launched by 21 ...
Leadership Insight: Karen Clark
Clark on Catastrophe Modeling: "The tricky thing about cat modeling is it is not all about the science and not all about the software. It is about having the right mix and then making sure that ...
Large International Insurers Challenged by Increasing Regulatory Burden
There is an increased focus globally on international insurance regulation driven by efforts within the G20 major economies to strengthen the international regulatory regime since the financial ...
If You Don’t Have a CIO on Your Board, You’re in Trouble (and You May Not Even Know It)
It's a widely accepted truism in this new millennium—if not an entirely proven one—that technology drives innovation and innovation drives competitive advantage. Whether or not that's completely ...
Understanding Terminology
Core IT: The systems that provide core insurance functionality including policy administration, claims and billing. Many times these systems are old and are difficult to modify. Change is done using ...
Preparing Your Organization for Digital Transformation
There is little consensus in the insurance industry on what exactly is included in "digital strategy." Most insurers typically mean agent portals, customer portals, corporate sites and online ...